Okay I know I'm a nerd, but one of my favorite shows is Frontline on PBS. About a month ago, the show discussed the concept of microlending in developing countries and it made so much sense that I haven't been able to get it out of my head since. For those who are not familiar with these types of programs, organizations like Kiva, allow people like you and me to lend money to small business owners throughout the world to help people out of poverty. Most banks will not loan money to individuals that do not have collateral or a down payment, microlending does not have such requirements, so it gives opportunities to people who have very little. They have a 100% repayment rate with the average loan being repaid in about 1 year (and even if you don't get repaid, its a tax write off). Paypal waives its fees, so loans can be transferred and repaid through paypal, it's great! You can go to the web site and read about the different people and their business and pick one or more to support, average loan requests are between $500-1000, but some are a small as $100 and you can lend as little as $25. It is truly astonishing how far a few American dollars can go in some of these countries. Once you lend the money you get updates on the status of the business owner and follow their success stories. I chose to lend $50 to a woman named Santa de Jesus Antunez Motiño (Santa & Jesus in the same name, it seemed like a sign of the season--haha!). Santa lives in Honduras and wants a loan to expand the grocery store she has been running for the past 5 years. Many of these recipients not only better their own lives, but also the lives of their children and any employees and their families that may be hired. Entire communities and economies can be changed by one successful small businesss. Kiva believes "this is one of the best ways to empower our neighbors, and give them opportunities to become economically independent, improve their standard of living, and alleviate poverty for themselves and their communities." I will keep everyone updated about Santa's progress, but I would also like to encourage everyone to try to give a little back. We all seem to get wrapped up in the commercialization of Christmas, but programs like this really do represent the true spirit of the season. I know many business adopt families during this time of year, which is also a wonderful program, but in the spring and summer encourage your company to adopt an entrepreneur and raise funds to sponsor one of Kiva's business owners. I can't wait to see Santa's business grow and it makes me feel really good knowing I had a hand in helping someone out of poverty. Good Luck, Santa!
Tuesday, December 05, 2006
The True Spirit of the Season
Okay I know I'm a nerd, but one of my favorite shows is Frontline on PBS. About a month ago, the show discussed the concept of microlending in developing countries and it made so much sense that I haven't been able to get it out of my head since. For those who are not familiar with these types of programs, organizations like Kiva, allow people like you and me to lend money to small business owners throughout the world to help people out of poverty. Most banks will not loan money to individuals that do not have collateral or a down payment, microlending does not have such requirements, so it gives opportunities to people who have very little. They have a 100% repayment rate with the average loan being repaid in about 1 year (and even if you don't get repaid, its a tax write off). Paypal waives its fees, so loans can be transferred and repaid through paypal, it's great! You can go to the web site and read about the different people and their business and pick one or more to support, average loan requests are between $500-1000, but some are a small as $100 and you can lend as little as $25. It is truly astonishing how far a few American dollars can go in some of these countries. Once you lend the money you get updates on the status of the business owner and follow their success stories. I chose to lend $50 to a woman named Santa de Jesus Antunez Motiño (Santa & Jesus in the same name, it seemed like a sign of the season--haha!). Santa lives in Honduras and wants a loan to expand the grocery store she has been running for the past 5 years. Many of these recipients not only better their own lives, but also the lives of their children and any employees and their families that may be hired. Entire communities and economies can be changed by one successful small businesss. Kiva believes "this is one of the best ways to empower our neighbors, and give them opportunities to become economically independent, improve their standard of living, and alleviate poverty for themselves and their communities." I will keep everyone updated about Santa's progress, but I would also like to encourage everyone to try to give a little back. We all seem to get wrapped up in the commercialization of Christmas, but programs like this really do represent the true spirit of the season. I know many business adopt families during this time of year, which is also a wonderful program, but in the spring and summer encourage your company to adopt an entrepreneur and raise funds to sponsor one of Kiva's business owners. I can't wait to see Santa's business grow and it makes me feel really good knowing I had a hand in helping someone out of poverty. Good Luck, Santa!
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